Model Risk Manager

ICE; London; On-site; GBP 70,000 - 90,000; Full time

Job summary

ICE Clear Europe is looking for a Quantitative Risk Manager to validate and monitor risk models in a collaborative environment. This role involves assessing model risk across various frameworks, mentoring juniors, and ensuring compliance with regulatory standards. Ideal candidates will have a strong quantitative background and excellent communication skills.

Qualifications

• Extensive experience in model validation and quantitative analysis.
• Strong knowledge of market, credit, and liquidity risk frameworks.

Responsibilities

• Conduct independent validation of risk and pricing models.
• Continuously monitor model performance and review risk management approaches.
• Document validation findings and recommend improvements.

Skills

Quantitative Analysis

Communication

Python

SQL

Education

MSc

PhD

Job description

Job Description

Job Purpose

ICE Clear Europe is seeking a Quantitative Risk Manager to join its Model Risk Management team. This role is responsible for validating and monitoring risk models used in the clearing house, ensuring their accuracy, robustness, and compliance with regulatory standards. The position involves end-to-end model risk assessment across initial margin, add-ons, and stress testing frameworks, with a focus on market, credit, and liquidity risk. This is an exciting opportunity for a technical expert looking for broader model and management exposure in a collaborative and flat organizational structure.

Responsibilities

• Conduct independent validation of risk and pricing models and review of stress testing frameworks, including conceptual soundness, assumption reasonableness, and performance benchmarking.
• Continuously monitor model performance and review first-line risk management monitoring approaches.
• Document validation findings, communicate risks, and recommend improvements.
• Provide guidance on model usage and act as a key stakeholder liaison for new models and changes.
• Stay updated on evolving market practices, regulatory requirements, and quantitative methodologies.
• Mentor and support junior team members.

Knowledge and Experience

• Degree (MSc/PhD preferred) in Mathematics, Statistics, Quantitative Finance, or related field.
• Extensive experience in model validation, quantitative analysis, or risk analytics.
• Strong knowledge of market, credit, and liquidity risk frameworks.
• Proficiency in Python (NumPy, Pandas, etc.) and SQL for data analysis.
• Strong understanding of option pricing theory and statistical risk modelling techniques (VaR, Backtesting, Stress Testing).
• Excellent verbal and written communication skills.

Preferred

• Industry certifications (PRM, FRM, CFA).
• Experience in a clearing house, trading firm, or similar financial institution.
• Familiarity with SR 11-7 model risk guidelines and exchange-traded derivatives.